Homework SourseIncome payment paid to a retiring partner will consist of a
Income payment paid to a retiring partner will consist of a partners share of all the following partnership assets except a partners distributive share, goodwill, rental property or unrealized receivables?
Income payment paid to a retiring partner will consist of a partners share of all the following partnership assets except a partners distributive share, goodwill, rental property or unrealized receivables?
Solution
Solution: unrealized receivables
Explanation: The payments for the value of his interest in assets, except excludes unrealized receivables and, under certain circumstances, other payments (section 736(a)), and good will (section 736(b)).
